Nigeria’s Unemployment Rate Increases to 33.3% in Q4 2020, Says  NBS

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    The National Bureau of Statists (NBS) on Monday disclosed that Nigeria’s unemployment rate increases to 33.3per cent in fourth quarter of (Q4) 2020 from 27.1per cent in second quarter of (Q2) 2020.

    According to the bureau report, the underemployment rate declined from 28.6per cent in Q2, 2020 to 22.8per cent.

    The report stated that number of persons in the economically active or working age population (15 – 64 years of age) during the reference period of the survey, Q4, 2020 was 122,049,400.

    The NBS report said, “This is 4.3 per cent higher than the figure recorded in Q2, 2020, which was 116,871,186.

    “The number of persons in the labour force (i.e., people within ages 15 -64, who are able and willing to work) was estimated to be 69,675,468.

    “This was 13.22per cent less than the number persons in Q2, 2020. Of this number, those within the age bracket of 25-34 were highest, with 20,091,695 or 28.8% of the labour force.

    “The total number of people in employment (i.e., people with jobs) during the reference period was 46,488,079. Of this number, 30,572,440 were full-time employed (i.e., worked 40+ hours per week), while 15,915,639 were under-employed (i.e., working between 20-29 hours per week).

    “This figure is 20.6% less than the people in employment in Q2, 2020.

    “The unemployment rate among rural dwellers was 34.5 per cent, up from 28.2 per cent in Q2, 2020, while urban dwellers reported a rate of 31.3 per cent up from 26.4 per cent.

    “In the case of underemployment among rural dwellers, it declined to 26.9per cent from 31.5%, while the rate among urban dwellers decreased to 16.2 per cent from 23.2 per cent in Q2, 2020.

    For the period under review, Q4, 2020, the unemployment rate among young people (15-34years) was 42.5% up from 34.9 per cent, while the rate of underemployment for the same age group declined to 21.0% from 28.2% in Q2, 2020.

    “These rates were the highest when compared to other age groupings.

    Under State disaggregation, Imo State reported the highest rate of unemployment with 56.6 per cent, this was followed Adamawa and Cross River States with 54.9 per cent and 53.7 per cent respectively. The State with the lowest rate was Osun in the South-West with 11.7 per cent.

    For underemployment, the state which recorded the highest rate was Benue with 43.5 per cent, while Lagos State recorded the lowest underemployment rate, with 4.5 per cent in Q4, 2020.

    “A total number of 12,160,178 did not do any work in the last 7 days preceding the survey.”

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